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Endogenous Innovation Spillovers and Technology Policy
Katsoulacos, Yannis; Ulph, David - C.E.P.R. Discussion Papers - 1996
We examine a model of R&D competition and cooperation in the presence of spillovers. Unlike virtually all the literature, however, we treat these spillovers as endogenous and under the control of firms. We show that it is then essential to make a number of distinctions that are ignored in the...
Persistent link: https://www.econbiz.de/10005136627
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Complementarity, Growth and Trade
Honkapohja, Seppo; Turunen-Red, Arja - C.E.P.R. Discussion Papers - 1999
We consider an endogenous growth model that includes international trade in capital goods. The model yields several distinct balanced growth solutions that can be classified using stability under adaptive learning. Some of the equilibria can involve growth rates much higher (or lower) than...
Persistent link: https://www.econbiz.de/10005067638
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The Impact of R&D Subsidies on the Introduction of New Products by Incumbent Firms
Siebert, Ralph - C.E.P.R. Discussion Papers - 2003
This Paper analyses the impact of R&D subsidies on incumbent firms to introduce new goods. We are especially interested in investigating various consequences of government subsidies for R&D, provided to firms that offer products of different qualities. This study examines the incentives of...
Persistent link: https://www.econbiz.de/10005504784
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Culture, Politics and Innovation: Evidence from the Creameries
O'Rourke, Kevin Hjortshøj - C.E.P.R. Discussion Papers - 2002
separator and the cooperative creamery. It asks whether variables identified as important for innovation and growth by cross …
Persistent link: https://www.econbiz.de/10005661832
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Subsidisation vs Information Provision as Instruments of Technology Policy
David, Paul; Stoneman, Paul - C.E.P.R. Discussion Papers - 1985
One of the aims of government policy has been to speed up the diffusion of new technologies. This aim has been pursued largely by policies aimed at improving information about the technology or by subsidising the purchase of new technology. In this paper we construct a simple diffusion model...
Persistent link: https://www.econbiz.de/10005281318
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Learning and Dynamic Comparative Advantage: Lessons from Austria's Post-war Pattern of Growth for Eastern Europe
Marin, Dalia - C.E.P.R. Discussion Papers - 1995
This paper looks at Austria's pattern of development and its lessons for Eastern Europe. Austria's development path is characterized by three features. In the post-war era Austria was among the countries with the fastest convergence rate. At the same time Austria's movement up the technological...
Persistent link: https://www.econbiz.de/10005666891
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Do Oil Windfalls Improve Living Standards? Evidence from Brazil
Caselli, Francesco; Michaels, Guy - C.E.P.R. Discussion Papers - 2009
We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...
Persistent link: https://www.econbiz.de/10008509470
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Inflation Targeting and Debt: Lessons from Brazil
Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2004
A single variable describes, day-by-day, what investors think about the state of Brazil's economy: the Brazilian … markets' assessment of the probability that Brazil might default on its debt obligations. This is mainly because the cost of … domestic interest rates, is thus the necessary first step in order to understand macroeconomic developments in Brazil. The …
Persistent link: https://www.econbiz.de/10005123784
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Evaluating the Minimum Asset Tax on Corporations: An Option Pricing Approach
Estache, Antonio; van Wijnbergen, Sweder - C.E.P.R. Discussion Papers - 1992
King-Fullerton methodology cannot assess the minimum-asset tax (MAT) because it cannot handle uncertainty. We present an alternative based on option pricing, and show how carry-over rules, depreciation conventions and uncertainty affect the MAT burden. Using Brazilian data, we show that: (a)...
Persistent link: https://www.econbiz.de/10005498170
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Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls
Forbes, Kristin; Fratzscher, Marcel; Straub, Roland - C.E.P.R. Discussion Papers - 2012
We use changes in Brazil’s tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and …. We find that an increase in Brazil’s tax on foreign investment in bonds causes investors to significantly decrease their … portfolio allocations to Brazil in both bonds and equities. Investors simultaneously increase allocations to other countries …
Persistent link: https://www.econbiz.de/10011084681